RISMedia's Real Estate Magazine

JUL 2018

Real Estate magazine is the industry's leading source for real estate news and information since 1980. Published monthly by RISMedia, Real Estate magazine offers timely and relevant real estate news to the industry's top brokers and agents.

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Page 28 of 126

24 July 2018 RISMedia's REAL ESTATE
I
t's becoming increasingly harder to engage with
and convert online leads—especially with all the
online resources and technology readily available
to consumers. So, what catches the eye of buyers
and sellers in today's tech-centric real estate
industry? It's all about location, location, location.
And that's where Local Logic comes in—a start-up
that uses AI and machine learning to zone in on
consumers' needs.
Co-founded in 2014 by CEO Vincent-Charles Hodder
and Chief Product Officer Gabriel Damant-Sirois, Lo-
cal Logic is changing the way consumers
approach real estate information by person-
alizing their experience.
"It was clear that location is a big factor in
residential choice behavior, but that the data
wasn't readily available to homebuyers and
agents," says Damant-Sirois. "My co-founders
and I gave ourselves the mission of making the
data on cities more available and understand-
able to help people make one of the most impor-
tant decisions in their life."
The company is helping consumers make more in-
formed decisions via personalized insights, as well as
keeping the agent in mind by shortening the time it
typically takes to convert a lead—increasing conversion
rates exponentially.
"Local Logic increases traffic on site through SEO and
good user experience," says Damant-Sirois. "Once peo-
ple are on our clients' site, they convert more by 10 - 36
percent, which means, ultimately, more qualified leads.
We can also provide much more detailed information
about location directly to real estate professionals so
that they can enhance their marketing tools and better
prepare for visits."
And the secret behind this highly efficient system?
An abundance of localized information at consumers'
fingertips. With Local Search and Local Maps, buyers
can pinpoint listings according to the lifestyle catego-
ries that matter the most to them, such as transporta-
tion, access to services, character, etc.
"The new generation of on-demand homebuyer is look-
ing for solutions that allow them to personalize their pur-
chasing experience. They're looking for properties that
fit their lifestyle. And although home amenities are a big
part of their decision, it's location that determines the
type of lifestyle they will have," says Hodder. "Real estate
professionals need to consider this when assisting a
homebuyer. They need to understand the
intricacies of a neighborhood to deliver
the lifestyle their client is looking for."
Damant-Sirois also believes that lo-
cation can have an overall impact on
nearly every segment of a consumer's
lifestyle. Everything from their com-
mute, nearby schools and how busy a
street is will have an effect on their daily
lives.
"According to a Trulia survey, 84 percent of
millennials are willing to forgo key home features to
live in their ideal neighborhood. Homebuyers care about
that more and more, and brokers and agents should pro-
vide these solutions if they want to attract and engage
with their potential clients," adds Damant-Sirois.
The true success behind Local Logic, however, is the
unique background that both Damant-Sirois and Hodder
bring to the local market. As previous urban planners
with experience in real estate development and residen-
tial choice behavior, Local Logic's co-founders under-
stand the importance of location in the home search
and how it can make the process more efficient for both
consumers and agents.
"We wanted to simplify the multitude of elements that
needed to be considered when analyzing a location, mak-
ing it easier for homebuyers, investors and real estate
professionals to compare different locations and match
the right people with the right location," says Hodder.
And, most importantly, Damant-Sirois and Hodder use
their backgrounds to not only provide a value proposition
Using Location to Attract, Engage
and Convert More Online Leads
Local Logic looks to transform the industry by personalizing
the customer experience on real estate broker websites
by Liz Dominguez